QuadrigaCX Exchange’s founder, Gerald Cotten, passed away more than two months ago, and with his death, the keys to the exchange’s cold storage allegedly went to the grave with him.
This is the story that QuadrigaCX is sticking to in the posthumous mess that has followed its founder’s death. The situation has been likened to a second Mt. Gox, with some of the biggest differences being that we don’t know whether or not QuadrigaCX is solvent and there’s no hard evidence of foul play on behalf of the exchange. But there are also more questions than answers, and lack of hard evidence or transparency in the situation (including, whether or not there are cold wallets and whether or not QuadrigaCX is being honest about not having access to them) is the exchange’s closest resemblance to Mt. Gox: no one’s completely sure of what happened and what’s going on.